CHARLESTON ,W.Va. — State Lottery Director John Myers says for the first time since 2005 all 9.000 permits available for Limited Video Lottery machines have received bids.
The Lottery conducted the second round of its 10-year permit rebidding last Friday. Myers said the Lottery received more bids than permits available.
“We had 1,508 permits available and we received 1,970 bids for those permits,” Myers said.
Myers said the state has received more bids than the 9,000 permitted machines allowed by law in two rounds of bidding.
“There will be some people who will not get a permit based on the amount that they bid,” Myers told Lottery Commission members at Tuesday’s monthly meeting.
Myers added it’s very rare to have bids for all 9.000 machines/permits. The permits are rebid every 10 years.
There were 7,110 permits grabbed in the first round of bidding back in January. Those bids brought in $53.8 million. Myers said once the accounting is done, the second round from last week will likely bring in another $12 million.
“We’re probably going to end up above $65 million for the permit bids,” he said.
Each permit in the first round required a minimum bid of $7,500. The legislature approved a bill last year that allows current LVL permit holders to keep their machines if they match the minimum bid. Minimum bids for the second round were set at $8,500 per permit. Myers said the single highest bid for a permit in the second round was $15,028.
Lottery Revenues
Myers also told the commission Tuesday, the Lottery has exceeded $1 billion in gross sales for the fiscal year. He said they passed the mark last week.
L:ottery Commission Chair Ken Greear said that’s a big accomplishment considering the continuing impact of the pandemic.
“That’s a milestone that reflects a good year given a consideration of what we had to deal with,” Greear said.
Myers said sales could reach as much as $1.2 billion by the end of the fiscal year.
The Lottery broke a streak of $1 billion in sales last fiscal year because of the pandemic. Lottery operations were closed for about two months.
Back to the office
Myers also told Lottery Commission members Tuesday, state Lottery headquarters would reopen to employees Monday, June 7. He said several staff members have been working from home for more than a year. He said it’s safe to bring them back to the building located on Pennsylvania Avenue in Charleston. He said proper protocols will be followed.